Hidden charges drive up costs of a holiday

Banks boost their profits with extra fees when we go abroad, but there are ways to fight back, writes David Budworth

MILLIONS of Britons who have taken advantage of the Easter holidays to head abroad will be stung by hidden charges on their holiday spending.

High handling charges, uncompetitive rates and hefty commissions equal extra costs for the hapless holidaymaker — but lucrative profits for the banks and foreign-exchange dealers.

It’s a multi-billion-pound market, and in the battle for holidaymakers’ cash firms are enticing customers with apparently flawless deals that may not be all they claim.

England’s World Cup-winning rugby player, Jonny Wilkinson, has teamed up with Travelex to promote its bureaux de change and price promise. Its website claims that if you get a cheaper price for foreign currency on the same day it will refund the difference. Like Jonny, so we are told, Travelex hates to be beaten.

But it can be. If you had bought €100 from Travelex’s online service on Wednesday, it would have cost you £71.32. But